Manual on the Development of Cleaner Production Policies ... - Unido

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DEVELOPMENT OF CP POLICY MODULE 5: POLICY TOOLS AND INSTRUMENTS understand the importance of CP can stimulate this kind of investment. Within the project, it is also envisaged to assist CP experts in developing creditworthy investment proposals. The project is expected to run from 1999 until 2002, and includes pilot demonstration projects in Guatemala, Nicaragua, United Republic of Tanzania, Viet Nam and Zimbabwe. The project has a strong information exchange and experience-transfer component. Various technical and promotional materials have been prepared, a study on investment practices in 8 countries and 50 financing institutions has been carried out and a dedicated web site set up. Further, practical training was provided in Central America and Eastern Europe. http://www.financingcp.org/about/about.html EXAMPLE NEFCO’s Revolving Fund for Cleaner Production The Nordic Environment Finance Corporation (NEFCO) is a risk capital institution financing environmental projects in Central and Eastern Europe. NEFCO was established in 1990 by the five Nordic countries (Denmark, Finland, Iceland, Norway and Sweden). Its purpose is to facilitate the implementation of environmentally beneficial projects in neighbouring countries. NEFCO is located in Finland, and has a capital €80 million. In 1998, NEFCO set up a revolving facility to finance priority Cleaner Production investments in north-western Russia and the Baltic countries. The objective is to finance—on favourable terms—the implementation of high-priority Cleaner Production investments with a payback period of no more than three years. The investments should be commercially viable, and the resulting earnings are to be used to repay the loan. The investments are expected to be model projects to upgrade business and environmental performance through low-cost measures. Furthermore, the financial participation of NEFCO will help attract financing from other sources. Eligible for funding are state-owned enterprises, local or foreign private entities and joint ventures. The size of a loan ranges from US$ 50,000 to US$ 200,000. The criteria for providing a loan is the cash flow of the Cleaner Production investment and the ability of the enterprise to repay the loan over the agreed period. Technical assistance on CP matters is provided to NEFCO by the Lithuanian Cleaner Production Centre. A similar fund for Polish small and medium enterprises is being developed by the European Bank for Reconstruction and Development. http://www.nefco.org/cleanerprod.htm There are a number of other financial mechanisms and disbursement structures, including green investment funds, dedicated lines of credit and guarantee funds with special emphasis on CP. Since 1999, the foundation FUNTEC in Mexico is providing assistance in project preparation as well as loans to micro, small and medium companies implementing CP projects. More than 40 companies received technical assistance. Loans cover up to 80 per cent of a project cost. The financing is directed via the Fund for the Projects for Pollution Prevention (FIPREV). PAGE 132
DEVELOPMENT OF CP POLICY MODULE 5: POLICY TOOLS AND INSTRUMENTS Special-purpose funds or soft loans are often provided through financial intermediaries in developing countries. Examples of such facilities include World Bank and Kreditanstalt für Wiederaufbau (KfW) credit lines for CP and pollution prevention financing in China, India and some countries in Latin America. The Asian Development Bank is in the process of planning a special SME fund on CP for selected countries in the region. SLIDE: Possible new areas for CPC involvement • Multilateral environmental agreements; • Green investment funds and innovative financing; • Environmentally sound technology transfer programmes; • Eco-labelling and certifications; • Environmental Management Accounting; • Occupational health and safety. This slide signals some new areas—in addition to the ones already presented earlier in the module—where CP centres can expect to play a greater role in the near future. Background An overview of recent policy trends suggests that, in the near future, CP Centres could become increasingly involved in new, non-traditional areas, including: 1. Implementation of international environmental conventions CP Centres are already involved in projects relating to some multilateral agreements such as the Basel Convention on hazardous waste. In the near future, CP centres may also be involved with the greenhouse gas abatement of the Kyoto Protocol or the reduction of persistent organic pollutants addressed in the Stockholm Convention; 2. Green investment funds and innovative financing schemes for CP Financial engineering of CP projects is often requested by clients, and development banks and international financing institutions are similarly already showing interest. Some green investment funds have emerged, where shareholders are investing in environmentally beneficial projects. The Swiss Bank Corporation, for instance, offers investments in ecological leaders or innovators who are interested in implementing CP opportunities; 3. Technology transfer projects Many such projects were fashionable at the beginning of the nineties. Experience showed, however, that technology transfer without the underlying policy work does not bring sustainable benefits. The current definition of “environmentally sound technologies” includes pollution control equipment—a new product for the Centres. For some regions, the clustering of several small countries to create a more attractive market for technology transfer may be an interesting option; 4. Eco-labelling and CP certifications Following the success of ISO 14001, and lessons learned from the implementation of some ecolabel and national environmental certification schemes, it is likely that eco-labelling will soon be back on the agenda in some form. The publication of the ISO 14020-24 standards on ecolabelling will help structure the process; PAGE 133
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